Wilmington Savings Fund Society FSB Acquires New Shares in The Scotts Miracle-Gro Company (NYSE:SMG)

Wilmington Savings Fund Society FSB bought a new position in The Scotts Miracle-Gro Company (NYSE:SMG) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 509 shares of the basic materials company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at approximately $26,000. Farther Finance Advisors LLC grew its position in Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at $25,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at $29,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group cut their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a “hold” rating and a $72.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Truist Financial dropped their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

Scotts Miracle-Gro Price Performance

NYSE:SMG opened at $68.52 on Monday. The Scotts Miracle-Gro Company has a one year low of $53.43 and a one year high of $93.90. The company has a fifty day moving average price of $79.35 and a 200 day moving average price of $73.88. The stock has a market cap of $3.94 billion, a P/E ratio of -99.30 and a beta of 1.71.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Insider Activity at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $77.14, for a total value of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Nathan Eric Baxter sold 11,359 shares of Scotts Miracle-Gro stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.37, for a total transaction of $856,127.83. Following the sale, the chief operating officer now owns 51,631 shares in the company, valued at approximately $3,891,428.47. This trade represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,227 shares of company stock worth $4,410,268. Company insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.